Updated Duplex with Rental
For Sale
$295,000
817 Veto St NW, Grand Rapids, MI 49504
Two-unit property with refreshed interiors and a current rental inspection.
Property Size1,966 SF
Price / SF$150.05
Days on Market75
Property Features for 817 Veto St NW
General Information
Standard status
Active
Size
1,966 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
John Ball Park
Additional Details
Multifamily Units
2
Building Details
Year Built
1865
Listing Agency:
Real Estate West
Listed By:
Greg Anzivino
(616) 795-6617
Source:
Findmichiganhomelistings
Added: Aug 16
Changed: Oct 25
Last Checked: Oct 28 at 8:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate West
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Investment Insights
Based on property information with market context.
This duplex at 817 Veto St NW contains 1,966 square feet and was built in 1865. The layout includes two separate three-bedroom units, each with one full bathroom. Interior work includes updated cabinets, flooring, and some appliances, providing recent improvements across the property.
A current rental inspection has approximately four years remaining. The property also has an established rental history and offers a duplex configuration with two residential units at one address.
A current rental inspection has approximately four years remaining. The property also has an established rental history and offers a duplex configuration with two residential units at one address.
Key Highlights
- Two‑unit duplex with 1,966 square feet
- Each unit includes 3 bedrooms and 1 full bathroom
- Updated cabinets, flooring, and some appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,845
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$416,900
$416.9K
Cap Rate 7%
$297,786
$297.8K
Cap Rate 9%
$231,611
$231.6K
Market Conditions
NOI Build-Up for 1,966 SF
Gross rent
$31.8K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$29.8K $15.15/SF
− OpEx
−$8.9K −$4.54/SF
NOI
$20.8K $10.60/SF
Area
Grand Rapids, MI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$416,900
Cap Rate 7%
$297,786
Cap Rate 9%
$231,611
Alternative Uses
Best Use
Multifamily LT 5
$297.8K
$260.6K – $347.4K
NOI $20,845 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$266.6K
$233.3K – $311.0K
NOI $18,662 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$456.3K
$399.2K – $532.3K
NOI $31,938 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
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Business Placement
Demographics for 49504, MI
41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors and a current rental inspection.
Where is this duplex located?
The property is located at 817 Veto St NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,966 square feet; Each unit includes 3 bedrooms and 1 full bathroom; Updated cabinets, flooring, and some appliances
